Posted by Yogesh on Tuesday, 22 July, 2008
Organisations – GDP Estimates for 2008-09 (%)
Center for Monitoring Indian Economy (CMIE) – 9.5%
The Union Finance Minister (Budget Speech) – 9.0%
Montek Singh Ahluwalia Dy. Chairman, Planning Comm. – 9.0%
National Council of Applied Economic Research (NCAER) – 8.5% – 8.9%
RBI (Annual Credit and Monetary Policy) – 8.0% – 8.5%
Economic Advisory Council to the P. M. – 8.0%
Standard and Poor’s (S&P) and Crisil – 7.8%
The Economist (London) – 7.6%
Moody’s – 7.6%
World Bank – 7.0%
Last Six Years
Year – GDP Growth (%) – IIP Growth Rate (%)
02-03 – 3.84 – 5.74
03-04 – 8.52 – 7.02
04-05 – 7.45 – 8.35
05-06 – 9.40 – 8.15
06-07 – 9.62 – 11.55
07-08 – 9.03 – 8.13
Source: Dalal Street Journal
Posted in Indian Economy | Tagged: GDP, IIP | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
SINGAPORE/NEW DELHI, July 22 – India’s Reliance Industries Ltd is scouting for oil storages globally to market the huge volume of clean products from its new refinery coming online this quarter, company and trade sources said on Tuesday.
Industry sources said Reliance had already acquired some petroleum storage tanks in the Caribbean.
Read the rest of this entry »
Posted in Corporate News | Tagged: Oil Storage, Reliance Industries | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
New Delhi: Shyama Kumari has a new-found sense of confidence. The 20-year-old college goer taught part-time at a local school for two years and saved Rs8,000, which she has put in a bank account. Her banker? The local drug store.
Small beginnings: Both Shyama Kumari and her father have a mobile bank account with a local medico. Kumari isn’t the only one who banks in a shop and shops in a bank. Around 1,400 people in her neighbourhood, Uttam Nagar—a lower middle class colony in West Delhi—have, through shops that include grocers and chemists, opened accounts that now have between Rs20 and Rs 14,000. Read the rest of this entry »
Posted in Emerging Sector | Tagged: Eko India Financial Service, Mobile Banking | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
MUMBAI (Thomson Financial) – India-based Thermax Ltd. said its net profit for the first quarter to June 2008 rose marginally on higher income.
In a regulatory filing with the Bombay Stock Exchange the company said its net profit rose to 584.22 million rupees from 556.31 million rupees a year earlier and total income increased to 7.83 billion rupees from 7.24 billion rupees a year earlier.
Source CNBC
Posted in Financial Result | Tagged: Thermax | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
MUMBAI (Thomson Financial) – India’s Reliance Petroleum Ltd. a unit of India’s largest private sector company Reliance Industries Ltd. said its complex refinery being built in the western Indian state of Gujarat is 94 percent complete.
Reliance Petroleum said in a filing to the Bombay stock Exchange that the engineering, procurement and contracting activities have been completed while the construction activities are progressing rapidly to meet pre-commissioning requirements.
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Posted in Corporate News | Tagged: Reliance Petroleum | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
July 21 – Three months ended June 30 (versus the same period a year earlier, in million rupees unless stated)
Net profit 1,171.3 vs 875.8
Net sales 10,133.9 vs 7,657.1
NOTE: United Spirits Ltd , which owns the Scottish label Whyte & Mackay, is the world’s No. 3 spirits maker by volume.
Source Reuters
Posted in Financial Result | Tagged: United Spirits | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
MUMBAI, July 22 – India’s Tata Capital and Mizuho Corporate Bank Ltd said on Tuesday they had signed a memorandum of understanding for a strategic alliance for a range of activities in the financial services sector.
These include Ninja loans, project and infrastructure finance and treasury products, they said in a joint statement.
No financial details were disclosed.
Read the rest of this entry »
Posted in Corporate News | Tagged: Alliance, Mizuho Corporate Bank, Tata Capital | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
July 22 – Three months ended June 30. (versus the same period a year earlier, in billion rupees unless stated)
Net profit 1.60 vs 1.53
Interest earned 24.18 vs 17.93
NOTE: Industrial Development Bank of India is a state-run lender. The numbers are standalone. Source Reuters
Posted in Financial Result | Tagged: IDBI | Leave a Comment »
Posted by Yogesh on Tuesday, 22 July, 2008
* What: April-June earnings at India’s top oil firms
* When: Reliance on July 24, ONGC on July 28
* Reliance earnings seen up 14 pct; ONGC up 13 pct
MUMBAI, July 22 – India’s top petrochemicals maker and oil refiner, Reliance Industries Ltd , is forecast to report a modest 14 percent rise in quarterly net profit as its petrochemical business clips the pace of earnings growth despite strong refining margins. Read the rest of this entry »
Posted in Sector Spotlight | Tagged: ONGC, Reliance Industries | Leave a Comment »
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